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For additional information relating to this article, please contact:

Thomas StorringDirector – Economics and Statistics
Tel: 902-424-2410Email: thomas.storring@novascotia.ca

September 29, 2020
CANADA INDUSTRIAL PRODUCTS AND RAW MATERIALS PRICES, AUGUST 2020

During the COVID-19 pandemic, commodity and industrial product prices will provide indications of large changes in demand and/or supply.  The data presented in this article are price indices for Canadian Raw Materials and Canadian Industrial Products. 

RAW MATERIALS

From February 2020 to August 2020, there were price declines in crude energy  (-16.6%), and Logs, pulpwood, natural rubber and other forestry (-4.3%). Metal ores and concentrates were up 19.2%. The overall raw material index down 2.7%.

Most raw material and industrial product category prices were in balance, with only small changes from February to August.

 

INDUSTRIAL PRICES

Declines occurred in Industrial prices for Energy and petroleum (-19.5%), Chemicals (-3.1%), Primary ferous metals (-1.7%), Packaging materials (-1.0%), Furniture (-0.8%), Electrical (-0.7%), Pulp and paper (-0.5%), Motorized vehicles (-0.3%), and -0.1% in Clothing and Machinery. There was no growth in  Cement and Textiles and leather. Gains in Primary non-ferrous metals (12.7%), miscellaneouys products (4.9%), lumber (4.7%), Meat fish and dairy (0.5%), Fruits and vegetables (0.4%), Plastic/Rubber (0.3%), Tobacco (0.2%) and, at 0.1% Fabricated metal and Beverages. The overall decline in the industrial product price index was 1.5% over the February - August period.

 

Comparison of price changes for detailed commodities often shows little variation from one month to the next.  The following results show year-over-year (Jun-20 vs Jun-19).  Canadian raw material and industrial product price changes for selected goods that are produced in Nova Scotia and well as for energy products.

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Source: Statistics Canada:  Table  18-10-0030-01   Industrial product price index, by product, monthlyTable  18-10-0034-01   Raw materials price index, monthly



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